Hot Topics

Blackstone Completes Its Acquisition Of GCA Services Group

GCA Services Group, Inc. and Blackstone (NYSE: BX) yesterday announced
that they have closed the previously announced transaction whereby a
fund managed by Blackstone on behalf of its private equity investors,
...

GCA Services Group, Inc. and Blackstone (NYSE: BX) yesterday announced that they have closed the previously announced transaction whereby a fund managed by Blackstone on behalf of its private equity investors, Blackstone Capital Partners V, L.P. (collectively with its affiliates, “Blackstone”), purchased GCA Services Group, a leading facility services company in the U.S., from Nautic Partners, L.L.C. and other minority shareholders.

GCA Services Group, Inc. is among the largest facility services companies in the U.S., providing customized janitorial/custodial, facilities operations and maintenance, grounds management, diversified staffing, and other ancillary services to customers throughout the U.S. and Puerto Rico. GCA specializes in providing facility services to educational institutions (both K-12 schools as well as colleges and universities) and in select niche commercial segments that have strong growth prospects. GCA serves approximately a quarter of Fortune 100 companies and employs over 32,000 people. GCA was founded in 2003 and is headquartered in Cleveland, Ohio. For more information, visit http://www.gcaservices.com/.

About Blackstone

Blackstone is one of the world’s leading investment and advisory firms. Blackstone seeks to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. Blackstone does this through the commitment of their extraordinary people and flexible capital. Their alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-oriented funds and closed-end funds. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow them on Twitter @Blackstone.

About Nautic Partners

Founded in 1986, Nautic Partners is a middle-market private equity firm with over $2.5 billion of equity capital under management. The firm has completed over 110 transactions in partnership with management and delivered successful results to investors over three decades. Nautic targets equity investments of $25-$75 million, representing majority ownership in niche businesses with strong market share and growth potential, identified value enhancement opportunities and strong management teams. Areas of focus include business services, manufacturing, and healthcare. For more information, please visit www.nautic.com.

Retail earnings season kicks off with a bang. In one corner is Home Depot, which blows away Wall Street profit forecasts. In the other corner is Walmart, which disappoints Wall Street with its earnings.

Blackstone Group's Byron Wien has seen all sorts of cycles in the stock market during his storied career on Wall Street. TheStreet talks with Wien about what he thinks the market will do next after a surprise correction (and subsequent rally) in February.